Retail News CRM

Author: Mei Ling Tan

  • Marks & Spencer Reinforces Commitment to Philippines: New Franchise Partner on the Horizon

    Marks & Spencer Reinforces Commitment to Philippines: New Franchise Partner on the Horizon

    British retailer Marks & Spencer (M&S) has reassured its commitment to the Philippine market, despite the termination of its long-standing franchise agreement with SSI Group. This comes in response to speculations that the retailer was planning to withdraw from the country after over three decades of operation.

    M&S’s New Strategy

    The retailer’s continued stay is a part of a redefined strategy to accommodate a new local franchise partner, aimed at broadening its regional growth. M&S is focused on enhancing its global reputation by delivering quality products and services to customers worldwide, including the Philippines.

    A spokesperson from M&S reaffirms the company’s commitment by stating, “Our objective is to build a trusted global brand by bringing the best of M&S to customers around the world. We remain committed to the Philippines and the growth opportunity in the region.”

    This change follows more than two decades of partnership with the SSI Group. M&S decided to switch to a new franchise partner to buttress its ambitious growth plans in the region and announced the contract with SSI would conclude in May. The company expressed its gratitude to SSI for their years of collaboration.

    Upcoming Plans

    While M&S has not revealed details regarding the new partner or future plans for stores, it has promised that further announcements will be made in due time.

    M&S has been operating in the Philippines since the late 1980s, initially under the Rustan’s Group of Companies, which SSI Group acquired last year.

    SSI disclosed in a February 25 Facebook post that it would cease operations of M&S stores in the country, with May 2 earmarked as the last day of trading.

    Dubai-based Al-Futtaim Group, which manages the M&S franchise in Hong Kong and Singapore, also distributes footwear brands such as Reebok, Rockport, and Umbro in the Philippines through a subsidiary.

    Questions & Answers

    Why is M&S ending its contract with SSI Group in the Philippines? M&S is ending its 20-year contract with SSI Group as part of its regional growth strategy, which includes transitioning to a new local franchise partner.

    Who will be the new franchise partner for M&S in the Philippines? M&S has not disclosed details about its new franchise partner but has assured that announcements will be made in due course.

    What is M&S’s future plan for its business in the Philippines? While M&S has not detailed its future plans, it has affirmed its commitment to the Philippine market as part of its broader regional growth strategy.

  • Revolutionizing Retail: How WhatsApp and Conversational AI are Transforming Your Shopping Experience

    Revolutionizing Retail: How WhatsApp and Conversational AI are Transforming Your Shopping Experience

    The shift towards Conversational Artificial Intelligence (AI) is transforming the retail landscape, with AI-powered customer experiences emerging as the new standard, particularly within the realm of daily use messaging apps. This trend signals a departure from the previously flashy, novelty bots to a more meaningful, user-centered approach.

    Transition from Broadcasting to Dialogue

    For the past ten years, retailers have primarily focused on optimizing websites, apps, and mass emails – platforms that were primarily designed for broadcasting messages rather than fostering interactions. Burton Chau, CEO and Co-founder of Sanuker, contends that such platforms are now out of sync with how individuals typically utilize their smartphones. While websites, apps, and email blasts continue to play an essential role, they tend to be more transactional. Messaging platforms, which consumers frequently use daily, present an opportunity for high user interaction, high intent, and measurable customer journeys, particularly when supplemented with AI, automation, and data.

    This shift marks a significant realignment of the tech stack. Retailers are increasingly focusing on meeting consumers within their preferred platforms, such as WhatsApp, Messenger, and Instagram, and threading marketing, service, and commerce into a single chat thread. AI agents are employed within these threads to manage discovery, frequently asked questions (FAQs), lead qualification, and first-line service, with human staff handling more complex tasks.

    WhatsApp as the New Retail Hub

    Sanuker operates across various messaging platforms, but WhatsApp has emerged as the anchor for conversational retail in markets like Hong Kong, Malaysia, Singapore, India, and Indonesia. Chau attributes this to the app’s ubiquity and the quality controls established by Meta. A key selling point is that WhatsApp supports the entire retail journey, from pre-sales inquiries to recommendations, purchasing, post-sales follow-ups, and customer support.

    Using Sanuker’s technology, retailers can integrate the conversation with e-commerce platforms, Customer Relationship Management (CRM), and Enterprise Resource Planning (ERP) systems, providing real-time updates on inventory, pricing, and order status. As a result, the customer experience becomes less like a campaign and more like a continuous relationship.

    Personalization with a Contextual Memory

    While many retailers claim to offer personalization, Chau identifies a clear distinction between basic tweaks and what he terms “CRM-connected personalization.” He asserts that an AI agent achieves true personalization when it uses real-time customer data to provide accurate responses and promote outcomes. This includes access to purchase history, interests, and behaviors. The ability to update the backend with new events when orders or inquiries are made within the chat creates a closed loop that makes conversational AI economically attractive.

    Automation: The Future of the First-line Concierge

    Sanuker foresees a future where AI agents serve as the first-line digital concierge on messaging platforms. Chau believes that AI agents could replace human agents in customer service roles by 2026, not by eliminating human roles, but by taking on repetitive questions and escalating only when necessary.

    Achieving this requires a seamless integration of technologies. Sanuker’s platform, alongside tools like N8N and Dify, enable retailers to quickly and efficiently connect messaging with e-commerce, CRM, and ERP systems, and integrate AI models from OpenAI, Azure, Gemini, or DeepSeek.

    Guardrails, Not Gimmicks

    Despite the promise of conversational AI, it also brings potential risks, including spammy bots that undermine trust and invite regulatory scrutiny. Chau emphasizes the need for robust governance and compliance measures, and highlights the importance of designing explicit handover routes to human agents to ensure that customers never feel trapped in an automated loop.

    In his vision, the most successful retailers in 2026 will not be those that replace staff with bots, but those that utilize conversational AI to enhance human interactions, making them rarer, richer, and more consequential.

    Questions & Answers

    What is the role of messaging platforms in the shift towards conversational AI?
    Messaging platforms, such as WhatsApp, Messenger, and Instagram, are pivotal to the shift towards conversational AI as they provide the daily-use platform that allows for high user interaction, high intent, and measurable customer journeys.

    How does Sanuker’s technology enhance the customer experience on WhatsApp?
    Sanuker’s technology integrates WhatsApp conversations with e-commerce platforms, CRM, and ERP systems, providing real-time updates on inventory, pricing, and order status. This makes the customer experience more personalized and relationship-based.

    How does Sanuker envision the future of conversational AI in retail?
    Sanuker envisages a future where AI agents serve as the first-line digital concierge on messaging platforms. These AI agents would handle repetitive questions, escalating only when necessary, thereby enhancing the efficiency of the customer service process.

  • Coupang’s Q4 Revenue Takes a Hit Following Major Data Breach: Analysts’ Insight and Predictions

    Coupang’s Q4 Revenue Takes a Hit Following Major Data Breach: Analysts’ Insight and Predictions

    E-commerce behemoth, Coupang, endured a significant blow following a data breach in South Korea, leading to a loss in its fourth quarter. The company’s profits plummeted and its revenue failed to meet analyst predictions, reflecting the extensive impact of the breach.

    Financial Impact

    Coupang Korea, responsible for over 90% of the group’s total revenue, experienced severe backlash after a data breach was revealed in November. This breach impacted nearly 34 million customers. The revenue for the company for the time frame of October-December was reported at $8.8 billion, falling short of the anticipated $8.9 billion. The fourth quarter saw Coupang spiral into a $26 million loss, compared to a profit in the same period the previous year, although its New York-listed shares did see a 1.9% increase.

    CFO Gaurav Anand spoke out in an earnings call, indicating that active customers in their product commerce sector increased by 8% from the previous year to 24.6 million in the fourth quarter. However, this was a reduction from the third quarter’s 24.7 million, a change likely due to the data breach.

    Anand stated that they have observed stabilization since Q4’s end, with numerous customers reactivating their accounts and customer growth trends improving. Despite this, he expressed that growth and profitability are expected to remain subdued in the coming months due to the ongoing consequences of the data breach, but he anticipates that this impact will gradually diminish over the year.

    Details of the Data Breach

    The data breach led to the exposure of users’ names, phone numbers, and shipping addresses. However, Coupang confirmed that login credentials and payment details remained secure. The company pledged to take all necessary steps to mitigate future damage and strengthen preventative measures to avoid another breach.

    The interim head of Coupang’s South Korean division, Harold Rogers, assured customers that the company has not found any misuse of customer data linked to the incident or evidence of any further harm. Rogers explained that the breach was the result of a targeted attack by a former employee who exploited their knowledge of Coupang’s systems.

    Despite these claims, South Korea’s Science Ministry attributed the breach not to a sophisticated cyberattack, but to management failures at Coupang. In the wake of the incident, competitor platforms have capitalized on Coupang’s struggles, enticing customers away from the platform.

    Regulatory Challenges

    Additionally, Coupang is contending with proposed regulatory changes that could intensify competition in ultra-fast overnight deliveries, a sector that has been crucial to its market leadership. In a separate incident, South Korea’s antitrust regulator imposed a 2.2 billion won (US$1.53 million) fine on Coupang for pressuring vendors to reduce prices and carry extra costs to meet profit targets and delaying payments to suppliers. This penalty is not directly related to the data breach.

    Questions & Answers

    What steps is Coupang taking post-data breach?
    Coupang pledges to take all necessary measures to mitigate further harm and strengthen safety measures to avoid recurrence of such breaches.

    What caused the data breach at Coupang?
    The breach was attributed to a targeted attack from a former employee who exploited inside knowledge of Coupang’s systems.

    How has the data breach impacted Coupang’s financial standing?
    As a result of the data breach, Coupang’s revenue fell below predicted values, and the company reported a loss of $26 million for the fourth quarter.

  • Singapore’s Fertility Freefall: Record Low Rate Triggers Alarm for Aging Nation

    Singapore’s Fertility Freefall: Record Low Rate Triggers Alarm for Aging Nation

    The total fertility rate (TFR) of Singapore residents hit a new low of 0.87 in 2025, according to preliminary statistics. This downward trend, coupled with a rapidly aging population, is causing concern about how it will impact Singapore’s societal and economic structure.

    Deputy Prime Minister Gan Kim Yong expressed his concerns on February 26, stating that the unprecedented fall in birth rates could lead to a reduction in Singapore’s citizen population by the early 2040s if there are no new interventions.

    There has been a noticeable drop in marriage rates. Furthermore, those who do get married are having fewer children or none at all. These factors culminated in approximately 27,500 resident births in 2025, the smallest recorded number in Singapore’s history.

    The Deputy Prime Minister also pointed out that the growth of the citizen population, even taking immigration into account, was only 0.7% in 2025, a rate that has been slowing down over the past decade.

    He emphasized that the aging of Singapore’s population is accelerating at a rapid pace. In 2025, one out of every five citizens was aged 65 or older, an increase from one in eight in 2015.

    Questions & Answers

    What is the current total fertility rate (TFR) of Singapore residents?
    The total fertility rate (TFR) of Singapore residents has hit a new low of 0.87 in 2025 according to preliminary statistics.

    What are the consequences of the falling birth rates as mentioned by Deputy Prime Minister Gan Kim Yong?
    The Deputy Prime Minister expressed concerns that the unprecedented fall in birth rates could lead to a reduction in Singapore’s citizen population by the early 2040s if no new interventions are introduced.

    What are the current trends regarding marriage and childbirth in Singapore?
    There has been a drop in marriage rates in Singapore. Additionally, those who do get married are having fewer or no children at all, leading to a record low number of resident births in 2025.

  • Indonesian Vape Retailers Implement 21+ Policy to Curb Youth Smoking Rates: A Step Toward Healthier Choices

    Indonesian Vape Retailers Implement 21+ Policy to Curb Youth Smoking Rates: A Step Toward Healthier Choices

    The Association of Indonesian Vape Retailers (Arvindo) has issued a directive to all its member stores to cease the sale of e-cigarettes to individuals under the age of 21. The Association has mandated that retailers display signage indicating the age restriction and confirm the age of customers using valid identification.

    The Chairman of Arvindo, Fachmi Kurnia, stated that this move aligns with governmental attempts to restrict access to vaping amongst the youth. This sentiment is shared by the Tar and Smoke Free Movement (Gebrak), which advocates for the usage of alternative tobacco products to be limited to adult smokers only.

    Additionally, Arvindo has encouraged policymakers to incorporate science-based regulations into their considerations and recognize the potential of vaping to reduce harm. This suggestion was supported by a 2025 study from the JAMA Network, which found that e-cigarettes were the leading tool for smoking cessation in England.

    On the other hand, Garindra Kartasasmita, Chairman of Gebrak, emphasized that e-cigarette retailers need to take a more proactive role in informing customers about the health risks associated with smoke and tar. He also urged retailers to provide comprehensive information about alternative products.

    These developments come at a time when Indonesia is grappling with persistently high smoking rates. According to government data, there are an estimated 70 million active smokers in the country, a significant portion of which are youths.

    Data from a global youth survey further revealed an increase in the smoking prevalence amongst students aged 13-15, from 18.3% in 2016 to 19.2% in 2019. The survey also indicated high smoking rates amongst those aged 15-19.

    Questions & Answers

    What directive has Arvindo issued to its member stores?
    Arvindo has asked all its member stores to stop selling e-cigarettes to customers under 21, display 21+ signage, and verify the customers’ age with valid identification.

    What is Arvindo asking of policymakers?
    Arvindo is urging policymakers to adopt science-based regulation and to consider the potential of vaping as a harm reduction strategy.

    What has been the trend in smoking prevalence among young people in Indonesia?
    According to a global youth survey, smoking prevalence among students aged 13-15 in Indonesia increased from 18.3% in 2016 to 19.2% in 2019, with the highest rates seen among those aged 15-19.

  • HSBC Unveils Premier Elite Space in Singapore: The Largest Wealth Center Yet

    HSBC Unveils Premier Elite Space in Singapore: The Largest Wealth Center Yet

    HSBC has made a significant stride in expanding its footprint in Singapore by opening its fourth and largest wealth center in the city-state. Situated on the 33rd floor of the Singapore Land Tower, the wealth center spans 7,884 square feet and is equipped with 14 meeting rooms. These rooms include both private client advisory rooms and enclosed teller rooms, further enhancing the center’s capacity to serve its clientele.

    Catering to High Net Worth Clients

    The new wealth center is primarily dedicated to serving HSBC’s high net worth segment, specifically the HSBC Premier Elite. This segment, launched in 2024, caters to clients who maintain a minimum relationship balance of S$1.2 million ($1 million).

    Incorporating this wealth center into HSBC’s Singapore operations is a part of a larger plan to transform its business in the city-state. This plan includes a significant investment, with intentions to quintuple the bank’s local physical network.

    Ashmita Acharya, HSBC’s head of international wealth and premier banking in Singapore, spoke about the design and intent of the new wealth center. She noted that the center integrates the wealth and lifestyle aspirations of HSBC’s clients. By bringing together the best of the bank’s advisory, service, and hospitality expertise, the center aims to enhance the wealth journey of its clients in a meaningful way.

    Questions & Answers

    What is the purpose of the new wealth center established by HSBC in Singapore?
    The new wealth center is dedicated to serving HSBC’s high net worth segment, the HSBC Premier Elite. It aims to bring together the best of HSBC’s advisory, service, and hospitality expertise to enhance the wealth journey of its clients.

    Where is the wealth center located and what are its features?
    The wealth center is located on the 33rd floor of the Singapore Land Tower. It covers an area of 7,884 square feet and includes 14 meeting rooms, enclosed teller rooms, and private client advisory rooms.

    What wider plan is the opening of this wealth center a part of?
    The establishment of this wealth center is part of HSBC’s broader efforts to transform its business in Singapore. This includes plans to quintuple its investment towards increasing its local physical network.

  • Schnitz Breaks Into Chicken Tender Game: Launches New Mouthwatering Signature Tenders Range Nationwide

    Schnitz Breaks Into Chicken Tender Game: Launches New Mouthwatering Signature Tenders Range Nationwide

    Schnitz, the renowned food chain, continues to expand its product range by stepping into the chicken tender category with the launch of Tom’s Signature Tenders. This new offering signifies an innovative line of premium whole-muscle chicken.

    Tom’s Signature Tenders are prepared through a unique buttermilk marination process. The tenders are then coated in a signature breading that further enhances their taste and texture. They are available in both Original and Spicy varieties to cater to the varied palates of customers.

    Adding to this, Schnitz is also introducing two new dipping sauces – Signature Sauce and Premium Ranch – to perfectly complement the chicken tenders.

    The newly launched chicken tenders have been integrated into Schnitz’s menu in a number of formats. These include Tender packs and Tender boxes, created specifically to accommodate various dining occasions.

    These premium chicken tenders are available nationwide at all Schnitz locations. Customers can enjoy them either in-store or conveniently order them online.

    Questions & Answers

    What is the unique preparation method for Tom’s Signature Tenders?
    Tom’s Signature Tenders are prepared using a unique buttermilk marination process, followed by a coating of signature breading.

    What varieties are available for Tom’s Signature Tenders?
    Tom’s Signature Tenders are available in two varieties: Original and Spicy.

    Can customers order Tom’s Signature Tenders from any location and how can they do that?
    Yes, customers can order Tom’s Signature Tenders from any Schnitz location across the country. They have the option to enjoy their meal in-store or place an order online.

  • Sweet Success: Honey Australia Buzzes into Middle East Market with Exclusive Lulu Hypermarket Partnership

    Sweet Success: Honey Australia Buzzes into Middle East Market with Exclusive Lulu Hypermarket Partnership

    The family-owned Australian brand, Honey Australia, has recently extended its reach into the Gulf Cooperation Council (GCC) through an exclusive collaboration with the Lulu Group.

    Honey Australia’s premium products are now widely available across Lulu Hypermarket locations throughout the GCC. The launch of their partnership was celebrated with an in-store event in Qatar.

    Nick Maiolo, the co-founder of Honey Australia, expressed immense pride in this exclusive partnership with the Lulu Group for the brand’s GCC expansion. He stated, “As a family-owned enterprise that has been closely working with Australian beekeepers for several generations, it’s an honor to have our products included within Lulu’s premium Australian range, and being introduced to customers across the Middle East.”

    The regional introduction of Honey Australia is in line with the company’s participation at Gulfood, a leading food and beverage industry event. This provided the company an opportunity to connect with buyers and distribution partners to further fortify its market presence.

    Honey Australia’s expansion is not limited to the Middle East alone, as the company also has plans to extend its reach in other regions worldwide.

    Questions & Answers

    What is Honey Australia’s new partnership?
    Honey Australia has entered an exclusive partnership with the Lulu Group, helping them expand into the Gulf Cooperation Council (GCC) region.

    What event marked the launch of this partnership?
    The launch of the partnership was celebrated with an in-store event in Qatar.

    What is Honey Australia’s future expansion plan?
    While they have recently expanded into the GCC, Honey Australia intends to further increase their global presence by branching out into other regions around the world.

  • Keurig Dr Pepper Hits Refresh on Profits: Beverage Giant’s Sales Surge Fueled by Popular Refreshment Brands

    Keurig Dr Pepper Hits Refresh on Profits: Beverage Giant’s Sales Surge Fueled by Popular Refreshment Brands

    In the last fiscal year, Keurig Dr Pepper experienced a surge in sales, primarily fueled by increased demand for its beverage products.

    Growth in Global Net Sales

    An 8.2% rise in the company’s global net sales was witnessed during the year ended December 31, reaching a total of $16.6 billion. On a constant-currency basis, sales saw a boost of 8.6%, spurred by a 4.8% expansion in volume/mix and a favourable net price realisation at 3.8%. The company’s acquisition of Ghost contributed to 3.8% of the volume/mix growth.

    Sales Increase in US Refreshment Beverages Segment

    The US refreshment beverages segment, which comprises brands like Dr Pepper, Canada Dry, Snapple, and 7Up, played a significant role in this increase. Sales in this segment soared by 11.9%, reaching $10.4 billion. This segment’s growth reflects its successful market share gains across carbonated soft drinks, energy drinks, and sports hydration, the company reported.

    Performance of US Coffee and International Segments

    The US coffee segment, housing brands such as Keurig, Green Mountain Coffee Roasters, and The Original Donut Shop, witnessed a slight increment in sales, moving up by 0.6% to $4 billion. This rise was largely due to increased K-Cup pods sales, which somewhat made up for the decrease in brewer sales.

    The company’s international sales also saw an improvement of 5.9%, reaching $2.2 billion (or 9.3% when adjusted for currency). This performance was led by high growth in key categories like mineral water in Mexico and single-serve coffee in Canada.

    Net Income Increase

    Keurig Dr Pepper’s GAAP net income went up by 44.3% to $2.1 billion, which included a favourable year-over-year impact of items affecting comparability. Adjusted net income also increased by 6.6% to $2.8 billion.

    CEO Tim Cofer commented on the company’s robust performance, stating that 2025 was another strong year for Keurig Dr Pepper. He praised the company’s ability to deliver on guidance, navigate the dynamic operating environment with agility, and execute well in the marketplace with innovative winning strategies and robust commercial brand activations.

    For FY26, the company anticipates a 4-6% rise in net sales.

    Changes in Board Chair Position

    Keurig Dr Pepper also announced the transition of the board chair role from Bob Gamgort to Pamela Patsley at the end of the first quarter. Patsley, a board member since 2018, currently serves as the lead independent director.

    Questions & Answers

    What contributed to the increase in Keurig Dr Pepper’s sales?
    The increase in sales can be attributed to higher demand for its beverage brands and the acquisition of Ghost, which contributed to volume/mix growth.

    How did the US coffee segment perform?
    The US coffee segment observed a slight increase in sales due to higher K-Cup pods sales, which partially offset lower brewer sales.

    What changes were announced in the company’s board?
    The company announced a transition in the board chair position from Bob Gamgort to Pamela Patsley, who currently serves as the lead independent director.

  • Farro Fresh Expands Footprint with Eighth Store in Newmarket: A New Hub for Gourmet Shopping & Dining

    Farro Fresh Expands Footprint with Eighth Store in Newmarket: A New Hub for Gourmet Shopping & Dining

    The New Zealand-based food retail chain, Farro Fresh, has announced plans to launch its eighth store in Newmarket later this year. The new store will be located at 480 Broadway, a site formerly occupied by Liquorland.

    Store Details

    Farro Newmarket is expected to offer several attractive features for customers, including 70 on-site parking spaces, three separate entrances from Broadway and Mahuru Street, and easy access to both northern and southern motorway routes.

    CEO of Farro, Garth Sutherland, expressed his enthusiasm at the choice of location, citing the suitability of Newmarket as a bustling hub for shopping, dining and entertainment. He believes that the convenience of the Broadway location will be particularly appealing for local residents.

    Product Range and Suppliers

    Sutherland acknowledged Farro’s commitment to partnering with local independent producers to offer a range of specialist products to Auckland consumers. He stated that the expansion will provide enhanced distribution opportunities for their suppliers.

    Like its sister stores, Farro Newmarket will feature a wide variety of products, including fresh produce, prepared meals from Farro Kitchen, as well as in-house fishmonger and butcher services.

    Additional Offerings

    The new store will also house a central deli offering Allpress Espresso coffee, matcha, salads, freshly prepared sandwiches, and baked goods from local bakeries. Additionally, it will stock a selection of domestic and imported cheese and charcuterie. Farro sources its products from over 500 suppliers in New Zealand and abroad, including reputed brands and restaurants such as Daily Bread, House of Chocolate, Cassia and Gemmayze Street.

    Once the store opens, customers will also have access to the Friends of Farro loyalty program and various promotional activities.

    Questions & Answers

    Where will the new Farro Fresh store be located?
    The new store will be located at 480 Broadway, Newmarket.

    What type of products will Farro Newmarket offer?
    The store will offer a wide variety of products, including fresh produce, prepared meals, in-house fishmonger and butcher services, as well as a selection of domestic and imported cheese and charcuterie.

    Will the Friends of Farro loyalty program be available at the new store?
    Yes, the Friends of Farro loyalty program and various promotional activities will be available at the new store once it opens.

  • Central Phuket’s Expansion: Transforming Thailand’s Luxury Retail Landscape by 2028

    Central Phuket’s Expansion: Transforming Thailand’s Luxury Retail Landscape by 2028

    Central Pattana is embarking on a significant expansion of Central Phuket, aiming to transform the mixed-use development into a keystone of Phuket’s transition from a tourist-centric locale to a global lifestyle hub.

    The expansion will enlarge the project’s existing area by approximately 40%, pushing the total developmental value past 26 billion baht (US$835.7 million) when completed in 2028. The expanded project will cover an approximate 500,000 square meters of gross building area, solidifying its standing as one of southern Thailand’s major retail and lifestyle establishments.

    Transition to Luxury Lifestyle Destination

    Situated in Phuket City, Central Phuket has gradually evolved from a traditional mall set-up to a luxury-focussed, experience-centric destination. It is designed to cater to high-spending local and international consumers. The latest development phase is set to tap into the escalating long-term residency, growth in branded residential spaces, and infrastructure improvements across Phuket.

    A key aspect of the expansion plan is the doubling of luxury retail space in Central Phuket Floresta. Central Phuket Festival will also be repositioned to enhance its appeal in the fashion and lifestyle sector. The expansion will additionally usher in new high-end dining areas and significant attractions, including immersive entertainment concepts, scheduled for gradual introduction by 2028.

    Central Pattana’s chief marketing officer, Nattakit Tangpoonsinthana, has drawn comparisons between this development model and successful examples in Miami, Saint-Tropez, and Barcelona. He emphasized Central Pattana’s commitment to strengthening this approach with a ‘Global Coastal City’ model. This model is underpinned by three core elements: luxury lifestyle, downtown economy, and a global community, positioning Phuket for long-term sustainable growth.

    Store Expansions and Exclusive Concepts

    The expansion will see the introduction of multiple store expansions and unique shopping concepts. These include the largest Louis Vuitton outlet in southern Thailand, a 597 square meter Prada boutique showcasing one of its widest beachwear collections, a pop-up by Celine, and revamped concept stores from Balenciaga and Saint Laurent.

    In a separate development, Central Pattana allocated 21 billion baht (US$640 million) last year to construct a new mega shopping and lifestyle complex, The Central Phaholyothin, in northern Bangkok.

    Questions & Answers

    What is the projected value of the expanded Central Phuket project?
    The total developmental value is estimated to exceed 26 billion baht (US$835.7 million) upon its completion in 2028.

    What new features will the expansion of Central Phuket introduce?
    The expansion plans include the doubling of luxury retail space, the introduction of new high-end dining areas, major attractions including immersive entertainment concepts, store expansions, and unique shopping concepts.

    What is the ‘Global Coastal City’ model?
    The ‘Global Coastal City’ model is driven by three core elements: luxury lifestyle, downtown economy, and a global community. It aims to position Phuket for long-term sustainable growth.

  • DoorDash Bids Farewell to Singapore and Japan Markets: A Strategic Re-focus on Sustainable Growth

    DoorDash Bids Farewell to Singapore and Japan Markets: A Strategic Re-focus on Sustainable Growth

    DoorDash, the leading food delivery platform, has announced the discontinuation of its operations in Singapore and Japan to concentrate on markets with higher priorities.

    Singapore Shutdown

    In Singapore, DoorDash will be closing down its Deliveroo service on March 4, thus drawing a curtain over its 11-year long tenure in the city-state. The firm has indicated that services will remain operational until the shutdown, advising customers to exhaust any residual credits and gift cards before the cessation of operations.

    Exiting Other Markets

    In a related development, the company has also confirmed the planned closure of Deliveroo and Wolt services in Qatar, Uzbekistan, and Japan. This decision was reached following an extensive evaluation of market conditions spanning several months. According to DoorDash, the exit strategy is hinged on factors specific to each of these countries and is aligned with the company’s strategic thrust to focus on markets that offer the greatest potential for sustainable growth and long-term dominance.

    Despite describing the decision as a challenging one, the firm has committed to closely collaborating with relevant local stakeholders to effect a seamless transition in the immediate future.

    DoorDash’s Contributions and Gratitude

    Miki Kuusi, the Head of DoorDash International, CEO of Deliveroo and co-founder of Wolt, expressed gratitude to all who have been a part of their journey. He remarked, “Over the last 11 years, we have been proud to shape food delivery in Singapore, granting consumers access to an extensive range of restaurant and grocery partners. To all our employees, customers, partners, and riders who have accompanied and supported us on this journey – thank you.”

    It’s worth noting that in the previous year, Deliveroo also withdrew from the Hong Kong market on April 7, after operating there for nine years. This followed an agreement to sell some of its assets to Foodpanda.

    Questions & Answers

    Why is DoorDash discontinuing its operations in Singapore and Japan?
    DoorDash is discontinuing operations in Singapore and Japan to focus on markets with higher priorities.

    What will happen to the remaining credits and gift cards of customers in Singapore?
    Customers are advised to exhaust any remaining credits and gift cards before DoorDash ceases operation on March 4.

    Can we expect further market exits from DoorDash?
    While not explicitly stated, the company’s strategic focus on markets where it sees a clear path to sustainable scale and long-term leadership might lead to further market exits.

  • Experience the Grandeur of Tory Burch’s Largest Hong Kong Store at K11 Musea: Bigger, Better, and Brimming with Style

    Experience the Grandeur of Tory Burch’s Largest Hong Kong Store at K11 Musea: Bigger, Better, and Brimming with Style

    Tory Burch, the renowned fashion brand, has recently reopened its newly revamped boutique located at K11 Musea. The redesigned space, covering an area of 3800 square feet, now stands as the largest Tory Burch outlet in Hong Kong.

    Reflecting the Brand’s Identity

    Thibault Villet, International Director for Asia-Pacific, Japan, and EUME regions, shared that the design of the store embodies the brand’s unique blend of timeless elegance, warmth, and modern spirit. The boutique’s aesthetic is a physical manifestation of the brand’s identity, showcasing its commitment to quality and style.

    A Comprehensive Tory Burch Experience

    Customers visiting the boutique can look forward to a comprehensive shopping experience as the store offers Tory Burch’s ready-to-wear collection, handbags, footwear, and a broadened range of jewellery. This diversity in the product line ensures that shoppers have access to a complete Tory Burch ensemble.

    Jewellery: The Key Growth Category

    Villet highlighted that jewellery is a pivotal growth category for the brand. “The introduction of more jewellery options enhances styling possibilities, encourages repeat visits, and draws in new customers,” he said. He added that in a market where attention to refinement and detail is crucial, their expanded jewellery collection will be particularly appealing.

    Questions & Answers

    What changes have been made to the Tory Burch boutique at K11 Musea?
    The boutique has undergone a redesign and now spans a space of 3800 sqft, making it the largest Tory Burch store in Hong Kong. The design of the store reflects the brand’s timeless elegance, warmth, and modern spirit.

    What products does the revamped Tory Burch boutique offer?
    The store carries Tory Burch’s ready-to-wear collection, handbags, footwear, and an expanded range of jewellery.

    Why is jewellery considered a key growth category for Tory Burch?
    According to Thibault Villet, the brand’s International Director for Asia-Pacific, Japan, and EUME regions, expanded jewellery options enhance styling possibilities, encourage repeat visits, and attract new customers.

  • UOB Defies Profit Dip to Bestow 6,000 Junior Staff with Surprise Half-Month Salary Bonus

    UOB Defies Profit Dip to Bestow 6,000 Junior Staff with Surprise Half-Month Salary Bonus

    Despite a dip in 2025 net profits, the United Overseas Bank (UOB) of Singapore plans to award approximately 6,000 junior staff members with a half-month base salary payout. This one-time payment aims to recognize their hard work and contributions amidst trying external circumstances.

    A Rewarding Gesture

    UOB intends to distribute these payouts in the second quarter of this year. The total sum of the payouts will amount to roughly S$4 million (US$3.16 million), as disclosed in the bank’s recently released earnings report.

    In the report, UOB also reaffirmed its dedication to uphold a competitive and equitable wage structure for all its employees.

    Financial Performance in 2025

    This generous gesture comes in spite of UOB’s net profit experiencing a 7% year-on-year decline in the fourth quarter, closing at S$1.41 billion. This decrease resulted from margin pressures counterbalancing loan growth.

    For the entire year, UOB’s net profit was recorded at S$4.7 billion, showing a decrease from S$6 billion in 2024. UOB identified the primary cause for this decline as the precautionary general allowances it had allocated in the third quarter, intended to fortify provision coverage in response to increasing macroeconomic uncertainties.

    A critical profitability indicator for the bank, its net interest margin, decreased to 1.89% in 2025, down from 2.03% in the previous year. Simultaneously, net interest income saw a 3% decline, amounting to S$9.36 billion.

    A Trend in Singaporean Banking

    UOB is not the only Singaporean bank showing appreciation for its employees in such a manner. Another prominent bank in the country, DBS, also declared a S$1,000 bonus for its numerous junior employees upon the disclosure of its 2025 earnings earlier this month.

    Questions & Answers

    What is the total amount UOB plans to distribute to its junior staff as a reward?
    UOB plans to distribute around S$4 million (US$3.16 million) among approximately 6,000 junior staff members.

    What caused UOB’s net profit to decrease in 2025?
    The decrease in UOB’s net profit for 2025 is largely attributed to the bank setting aside precautionary general allowances in the third quarter, aimed at bolstering provision coverage due to escalating macroeconomic uncertainties.

    Did other banks in Singapore also provide bonuses for their junior employees?
    Yes, DBS, another prominent bank in Singapore, also announced a S$1,000 bonus for its junior employees when it released its 2025 earnings.

  • Doji Dives into Silver Bar Trade: New Online and In-store Opportunities for Vietnamese Investors

    Doji Dives into Silver Bar Trade: New Online and In-store Opportunities for Vietnamese Investors

    DOJI, a renowned jewelry retail chain, recently joined the ranks of the nation’s silver bar distributors, making it the fourth such establishment in the country. The company initiated the sale of one- and five-tael silver bars in the cities of Hanoi and HCMC on Tuesday, with plans for expansion into Da Nang City and Hai Phong City. It’s notable to mention that a tael is a unit of measurement equivalent to 37.5 grams or 1.2 ounces.

    Customers are given the option to either purchase from DOJI’s physical stores or use the company’s eGold app to shop online. The company expressed that there has been a rapid increase in demand for physical silver as a store of wealth. However, the market is experiencing a shortage of standardized products, particularly regarding weight and quality.

    The Current Silver Bar Market

    As it stands, the silver bar market is serviced by three other distributors, Phu Quy Silver, Sacombank, and Ancarat. Despite the growing popularity of silver bars, market analysts have issued warnings regarding the volatility of silver prices. They noted that price fluctuations for silver tend to be more drastic compared to gold, which may make it less suitable for novice short-term traders and those employing leverage.

    Recent Silver Market Trends

    Following the Lunar New Year holidays, silver has been trading at VND3.4 million (US$126.21) per tael, which is 25% below the record high it reached at the end of January. The average price forecast for the metal this year is $81 per ounce, as per the prediction of a major banking institution. This is more than double the 2025 figure.

    Another financial institution provided a more optimistic short-term forecast at the close of January, suggesting that silver could potentially reach $150 within three months. This prediction was attributed to technical factors and developments in supply and demand.

    Questions & Answers

    What is the latest addition to DOJI’s offerings?
    DOJI has recently started selling one- and five-tael silver bars, becoming the country’s fourth distributor of this product.

    What has led to the increased demand for physical silver?
    The surge in demand for physical silver is largely due to its appeal as a store of wealth. However, the market currently lacks standardized products in terms of weight and quality.

    What are the current predictions for silver prices?
    A major banking institution projects an average price of $81 per ounce this year, more than double the 2025 figure. Another financial institution anticipates that silver could reach $150 within three months due to technical factors and supply-demand developments.